Shotgunner51
RETIRED INTL MOD
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I completely agree.
@AndrewJin said this, "Don't compare low income country to middle income country."
So, he was talking about income status of citizens.
India= 1.7k dollars
China= 8k dollars
US= 55k dollars.
China/India ~ 5
US/China ~ 7
China produces more steel and concrete than rest of the world combined to build the biggest ever infrastructure, cities and industrial bases which generate the world's #1 largest industrial GDP, #1 largest producer of numerous industrial goods, #1 in high tech exports (more than next 3 industrial powers combined), giving China an unparalleled trade clout (>124 countries has China as top partner), #1 trade surpluses and now is world's #2 creditor nation after Japan (Greater China combined #1). Even in agriculture, China is #1 in terms of GDP. On literacy, schooling, intelligence quotient, even sports, China tops most international arena. As a result of low consumption, China has a relatively low combined GDP, however that further drives China to having world's #1 gross domestic savings.
On combined GDP there is hardly any comparison, China is a low consumption, high savings creditor nation. And in terms of sector composition:
While China tops the world in industrial & agriculture, services sector is exceptionally low in China's economic structure.
There is no GDP comparison between an economy of high spending with debt, and an economy of low spending with savings/credits.
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